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So, there is an offering to raise 5 million dollars, which is fine because it seems they are putting the capital to good use in order to grow the company.
So, we are sitting at approximately 10x earnings, but the PRs indicate that additional wells will be drilled. I think fair value is closer to 15x earnings based on potential, which is right around 4 cents.
Has someone on here calculated current revenues from wells just acquired?
Can you imagine share price at $70 per barrel oil?
And I just bought 250k for two pennies. Unbelievable.
I bought another 700k. This was my thought process as well. We all knew they were going to plug so close to Spring.
Looks like a buy at .64. News must be coming.
Etrade
I have a feeling they might have struck oil.
Good point. All the more reason that 88e is pointing to a long term hold.
Not NOW, but in 15 years? Probably.
Oh my goodness! This is some fantastic DD. Took me almost 30 minutes to read through it, but the poster--with an assist from the Redditer Geodes--clearly lays out the case that we might be at the higher end of potential oil and not at the mean.
If this pans out, we literally could have enough oil to produce 30000 boe per day for 15 years.
165million boe/30000 a day=5500 days/12=15
Think about that for a moment. We must shift to non-hydrocarbons eventually, but we will still need oil for the next 20 years or so.
Plus, with all that acreage, 88e could set up a windmill farm to plug into the grid.
I am excited.
What kind of sadistic son of a gun would ruin Easter with bad news?
This seems like an easy double.
I did my part. Looks like light sweet crude could be in that shelf. I just hope 88e puts some of their future wealth into Green Energy.
That's about to become $81,000 in the near future.
Why am I reading this board on a Saturday?
I fid take the time to watch Mr. Wall's video from 12/20, and I like 90% odds. Now, someone explain the well that the farm partner pulled out of due to just finding oil condensates, the one that the CEO believes actually has oil in it. What's that all about? And, would a higher oil price make low quality oil worth something?
Still have my core, though.
I had to sell some I bought at .70. Sorry. Wife needed the funds.
Looks good to me.
I saw that. I wonder what could be going on.
I have a propane tank and contract with Suburban. If the tanks had this doohickey, then the co. would know exactly when to bring me more propane. There are millions of people like me. Millions.
This alone could make up 2 times their current yearly revs.
Amazing opportunity here.
I know I am planning to travel more. Of course, I drive an electric hybrid, so I won't help much.
This has been my thought process, too. Share price would have tanked. Instead, insiders chose shares over cold, hard cash.
The key to our success will be oil prices. If prices spike up to $75 per barrel, those of us with 1/2 million shares or more could very well become millionaires.
So...they aren't really out any money?
Wow! I wondered who was buying up all those last minute sells.
There's a lot of oil in there just waiting to be sucked up.
Plus, I assume there'll be some ng as well.
Blowout preventer should be inserted soon.
In order to take a stake of 50% in Project Peregrine, APDC will contribute US$11.3 million towards the project."
https://finfeed.com/small-caps/energy/88e-farmout-sees-partner-take-most-merlin-1-drilling-costs/
So, they put up over 11 MILLION DOLLARS to capture half of the PROFITS from this well.
I disagree. I think that the Alaska Peregrine Development Corporation LLC (APDC) must be comprised of a bunch of wealthy amateurs who just want to spend their time in the snow. They must be--else why would so many investors sell their shares to wealthy investment forms like they are doing RIGHT NOW?
I bought another 75,000 just in case you are right...as a hedge, you know.
"The spud will target an independently assessed gross prospective resource of 645 million barrels."
https://finfeed.com/small-caps/energy/88e-track-spud-merlin-1/
Imagine your backyard with a pool of water a mile below. Would you spend $10,000 to dig a well if there was diamond-hard rock on top? NO!
88 Energy isn't stupid. They have hired geologists. They know the terrain, the geographic formations, and the chances. My goodness. If you've ever been bass fishing, you know how sonar works. It isn't rocket science.
The oil is there people, and the company will extract it.
'Despite this revision, the company’s current cash position stands at US$13m which it said more than funds its share of the drilling of Merlin-1 as well as its other planned activities."
The company has cash in hand. Millions of $$$. Much better than any bloated biotech on the OTC.
$.20 by end of April.
I smell a buyout.
Thanks fir sharing!
Can you pin this?
So...the market cap is just under 62 million, and the co. gets a buyout offer for 100 million. This should be trading at $4.40 pps based on market cap alone.
Does seem like a buyout!
Holy Mackerel! This news is huge!
I am never able to click on these links on the app.
I saw the activity and bought the chart. What is this all about?
Today was a solid return. I expect many happy returns. #holding
I currently have a small position but am willing to scale up.